Lakers reportedly will waive Metta World Peace via amnesty provision

The Los Angeles Lakers will waive Metta World Peace via the amnesty provision, Kevin Ding of the Orange County Register reports.

According to Ding, the move will happen “barring some late change.” Ding also says the move will save the Lakers $30 million.

World Peace, then known as Ron Artest, signed a five-year, $32.5 million deal with the Lakers prior to the 2009 NBA season. World Peace was coming off an excellent season with the Houston Rockets and took less money to sign with the Lakers. The move paid off; the team won a championship in his first season.

Metta played significantly less minutes in the next two seasons after winning the title, but his minutes and numbers saw a boost under new coach Mike D’Antoni, in whose system he led the team in 3-pointers made and attempted.

World Peace turns 34 in November and dealt with a knee injury last season. The Lakers are rebuilding and must not feel it is worth bringing him back for the $7.7 million he is owed.

When a player is waived via the amnesty provision, his salary does not count against the salary cap or luxury tax. A team can claim the player off waivers for a reduced amount, and the team that waived the player would have to pay the difference in salary. If the players goes through waivers, the team that waived him is responsible for paying the entire salary. The player can then sign a contract with a new team for the veteran’s minimum.